Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Snowden Capital Advisors LLC

Snowden Capital Advisors LLC grew its stake in Quanta Services, Inc. (NYSE:PWR) by 39.6% during the fourth quarter, HoldingsChannel reports. The firm owned 5,365 shares of the construction company’s stock after purchasing an additional 1,522 shares during the quarter. Snowden Capital Advisors LLC’s holdings in Quanta Services were worth $1,696,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Kestra Private Wealth Services LLC increased its holdings in shares of Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after purchasing an additional 2,184 shares during the period. Allstate Corp purchased a new position in Quanta Services in the fourth quarter worth $1,357,000. SeaBridge Investment Advisors LLC acquired a new stake in Quanta Services in the fourth quarter valued at $1,754,000. Lebenthal Global Advisors LLC boosted its position in shares of Quanta Services by 10.7% during the 4th quarter. Lebenthal Global Advisors LLC now owns 8,627 shares of the construction company’s stock worth $2,727,000 after purchasing an additional 832 shares in the last quarter. Finally, Brighton Jones LLC purchased a new stake in shares of Quanta Services during the 4th quarter worth $298,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PWR. B. Riley boosted their target price on shares of Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. The Goldman Sachs Group decreased their target price on shares of Quanta Services from $418.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Daiwa America upgraded shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. Evercore ISI boosted their target price on shares of Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Finally, Bank of America began coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 target price on the stock. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average price target of $344.35.

Quanta Services Price Performance

Quanta Services stock opened at $344.92 on Friday. The firm has a market capitalization of $51.14 billion, a PE ratio of 57.20, a P/E/G ratio of 1.41 and a beta of 1.02. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $281.22 and its 200 day simple moving average is $301.67. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $365.88.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 EPS. On average, equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were issued a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is 6.45%.

Quanta Services Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.